6 Davis Ave Unit C-22 · Rye, NY 10580

$535,000

2 bd · 2.0 ba · 1,250 sqft · Condo · 29 Days on market

Built 1926 $428/sqft · 18% above area Est $452k · 18% over

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +9.9/30.0
• Schools +8.6/10.0
• Appreciation +8.3/10.0
• Livability +3.5/5.0
• 1% rule +3.0/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

A rare opportunity to own a coveted 2-bedroom, 2-bath home in a charming pre-war building tucked away on a quiet residential street in Rye. Just a short stroll to Metro-North, downtown Rye, and Rye Recreation Park, offering tennis, ball fields, and playgrounds for an exceptional lifestyle. Conveniently located on the second floor, this inviting residence features a spacious living room with fireplace, a primary suite with private bath, a second bedroom, and an additional full hall bath. The generously sized eat-in kitchen offers endless potential to customize and elevate. Residents enjoy common laundry, bike storage, and private storage units. Pet-friendly building allowing both dogs and cats. Bring your vision and create something truly special in this rarely available offering. Please note that some photos are virtually staged.

Key facts

• Built 1926
• Listed 29 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $535k.

Deal economics

• At list price, monthly cash flow is $-330 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $487k (8.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $426k (20.3% below list).
• Recommended offer: $426k (20.3% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 1.5% in Rye — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#431 in NY) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, cost of living F, health & safety F.
• Rye City School District (suburban): math 89% / reading 93% proficiency, ranked #4 of 590 in NY (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 2% free/reduced lunch — higher-income household profile.
• Market conditions: 121 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).

Forward outlook

• In year one you build about $39k of equity ($4k loan paydown + $36k appreciation (6.6% local appreciation)).
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$63k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($527k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $242k; list at $535k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $426,263 (20.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 5.55%
• Cash-on-cash: -2.64%
• DSCR: 0.88
• GRM: 10.5

CMA / ARV

• ARV (median comp): $452,129
• List price: $535,000
• Delta: 18.33%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

6.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.8%
• Equity multiple: 2.03×
• Total profit: $154,178
• Equity at exit: $358,292

10-year hold

• IRR: 14.9%
• Equity multiple: 4.11×
• Total profit: $465,440
• Equity at exit: $669,608

Cash invested: $149,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 10580

• Home prices YoY: 2.1%
• Active inventory: 121
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $4,263 high
• Mortgage (P&I): −$2,806
• Tax est. 1.5%: −$669 /mo · $8,025/yr
• Insurance: −$223
• HOA: −$0
• Vacancy / Maint / Mgmt: −$895
• Net cashflow: $-330

Break-even live

Break-even rent $4,680

Max offer price $487,279

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $133,750
• Closing costs: $16,050
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27-29 Purchase St Rye, NY	3.0	1.0	1081	$4,600	$4.26	18d	1	0.48mi
184 Purchase St Apt 12 Rye, NY	2.0	1.5	1100	$5,000	$4.55	4d	1	0.71mi
150 Theodore Fremd Ave Rye, NY	2.0–4.0	1.0–2.5	1320	$3,395	$2.57	1d	1	0.71mi
199 Purchase St Unit 2 Rye, NY	2.0	1.0	969	$3,800	$3.92	18d	1	0.75mi
9 Fenton St Rye, NY	3.0	2.0	1428	$8,800	$6.16	16d	1	0.98mi
83 Grant St Unit 2 Port Chester, NY	2.0	1.0	1200	$3,000	$2.50	24d	1	1.24mi
22 Wyman St Rye Brook, NY	3.0	1.0	1193	$3,500	$2.93	43d	1	1.34mi
250 S Ridge St Unit 2 Rye Brook, NY	3.0	1.0	1350	$3,800	$2.81	24d	1	1.41mi
494 W William St Unit 1st Floor Rye Brook, NY	2.0	2.0	1244	$3,685	$2.96	43d	1	1.48mi
494 W William St Port Chester, NY	2.0	2.0	1370	$3,685	$2.69	43d	1	1.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-07
   status Pending 848-char remark

   Show marketing remark (848 chars)

   A rare opportunity to own a coveted 2-bedroom, 2-bath home in a charming pre-war building tucked away on a quiet residential street in Rye. Just a short stroll to Metro-North, downtown Rye, and Rye Recreation Park, offering tennis, ball fields, and playgrounds for an exceptional lifestyle. Conveniently located on the second floor, this inviting residence features a spacious living room with fireplace, a primary suite with private bath, a second bedroom, and an additional full hall bath. The generously sized eat-in kitchen offers endless potential to customize and elevate. Residents enjoy common laundry, bike storage, and private storage units. Pet-friendly building allowing both dogs and cats. Bring your vision and create something truly special in this rarely available offering. Please note that some photos are virtually staged.

2. 2026-04-07
   listed $535,000 Active 848-char remark

   Show marketing remark (848 chars)

   A rare opportunity to own a coveted 2-bedroom, 2-bath home in a charming pre-war building tucked away on a quiet residential street in Rye. Just a short stroll to Metro-North, downtown Rye, and Rye Recreation Park, offering tennis, ball fields, and playgrounds for an exceptional lifestyle. Conveniently located on the second floor, this inviting residence features a spacious living room with fireplace, a primary suite with private bath, a second bedroom, and an additional full hall bath. The generously sized eat-in kitchen offers endless potential to customize and elevate. Residents enjoy common laundry, bike storage, and private storage units. Pet-friendly building allowing both dogs and cats. Bring your vision and create something truly special in this rarely available offering. Please note that some photos are virtually staged.

3. 2026-04-04
   historical $535,000 848-char remark

   Show marketing remark (848 chars)

   A rare opportunity to own a coveted 2-bedroom, 2-bath home in a charming pre-war building tucked away on a quiet residential street in Rye. Just a short stroll to Metro-North, downtown Rye, and Rye Recreation Park, offering tennis, ball fields, and playgrounds for an exceptional lifestyle. Conveniently located on the second floor, this inviting residence features a spacious living room with fireplace, a primary suite with private bath, a second bedroom, and an additional full hall bath. The generously sized eat-in kitchen offers endless potential to customize and elevate. Residents enjoy common laundry, bike storage, and private storage units. Pet-friendly building allowing both dogs and cats. Bring your vision and create something truly special in this rarely available offering. Please note that some photos are virtually staged.

4. 2014-01-27
   price $240,000 167-char remark

   Show marketing remark (167 chars)

   Bright And Spacious, North/South Exposure, New Ply Windows/Screens/ Ceramic Floors In Kitch And Baths, Hardwoodfls Thruout, Baywindow/ Windowseat, Lots Of Deep Closets

5. 2001-04-30
   soldstatus $242,000 167-char remark

   Show marketing remark (167 chars)

   Bright And Spacious, North/South Exposure, New Ply Windows/Screens/ Ceramic Floors In Kitch And Baths, Hardwoodfls Thruout, Baywindow/ Windowseat, Lots Of Deep Closets

6. 2001-03-28
   historical 167-char remark

   Show marketing remark (167 chars)

   Bright And Spacious, North/South Exposure, New Ply Windows/Screens/ Ceramic Floors In Kitch And Baths, Hardwoodfls Thruout, Baywindow/ Windowseat, Lots Of Deep Closets

7. 2001-03-08
   listed $242,000 167-char remark

   Show marketing remark (167 chars)

   Bright And Spacious, North/South Exposure, New Ply Windows/Screens/ Ceramic Floors In Kitch And Baths, Hardwoodfls Thruout, Baywindow/ Windowseat, Lots Of Deep Closets

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,152
• − Mortgage interest: −$29,968
• − Property taxes: −$8,025
• − Insurance: −$2,675
• − Repairs & maintenance: −$4,092
• − Management: −$4,092
• − Depreciation: −$15,564
• Taxable loss: −$13,265
• Est. tax savings @ 24.0%: +$3,184
• After-tax cash flow: $-774/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Rye City School District
• NCES district ID: 3625260
• Math proficiency: 89% ▲ 11.00%
• Reading proficiency: 93% ▲ 12.00%
• Median HH income: $144,848
• Composite: 85.84/100
• National rank: #6
• State rank: #4 of 590 in NY

Livability — Rye

• Score: 70/100
• State rank: #431
• US rank: #7470

Category grades

Amenities F Commute C+ Cost of living F Crime A+ Employment A+ Housing C+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rye, NY
• County: Westchester County · 709,332 people
• City population: 18,391
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 18,391
• Household income: $250,001
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 580.0

Population outlook (Westchester County) Hauer SSP2

• Today (2025): 1,028,035 people
• By 2030: 1,051,636 · +2.3%
• By 2040: 1,098,520 · +6.9%
• By 2050: 1,136,044 · +10.5%
• By 2075: 1,196,925 · +16.4%
• By 2100: 1,175,147 · +14.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 10% Asian 7% Hispanic / Latino 7% Black 2%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Romanian 5% Italian 3% German 3%
• Foreign-born: 20% · Canada, China, South Korea
• Languages at home: 80% English-only · Spanish 6% Other Indo-European 3% Chinese 2%

Political lean MEDSL · Westchester

• 2024 margin: Strong D (+26.3) · D 63.1% · R 36.9%
• 2008→2024 swing: -1.3pp toward R · 2008: 27.6pp · 2024: 26.3pp
• All cycles: 2024: D+26.3 2020: D+36.3 2016: D+32.8 2012: D+22.2 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.64%
• Current HPI: 321.5777
• Rent YoY: —
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+121.1% since first listed

7 events — show timeline

• 2026-05-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-07 Listed $535,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-04 Coming Soon $535,000 OneKey® MLS as Distributed by MLS Grid
• 2014-01-27 Price Changed $240,000 HGMLS
• 2001-04-30 Sold (MLS) $242,000 HGMLS
• 2001-03-28 Delisted — HGMLS
• 2001-03-08 Listed $242,000 HGMLS